Egypt’s new stamp duty on stock exchange transactions will come into effect in May and include for the first time a 0.3 percent levy for investors acquiring more than a third of a company’s stocks, deputy finance minister Amr al-Munayer said.
The finance ministry is targeting revenues of 1-1.5 billion Egyptian pounds ($54.8 million-$82.2 million) in the first year of the new tax, he told Reuters. The duty will also be applied to purchases of treasury bills and bonds, he said.
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